Primary & Weekly Cycles
The overall trend is to continue down into .7038, however don't be surprised to see a rise and retest of the Weekly 50% level and the MAY 50% level beforehand. Previous Report
Primary Trend remains bearish, however we have seen the AUD rise up into the June 50% level.
This is the critical level that will provide the resistance for the AUD to continue lower.
However, keep in mind that Monday can push higher, as part of the 5-day break & extend pattern towards .7464
To validate weakness, you'll need to keep an eye on price moving up on Monday, Tuesday moving down, and then validate Wednesday with the June 50% level as resistance.
